Optical Communication And Networking Equipment Global Market Growing at 11.2% CAGR to Hit $42.59 billion by 2028 | Cisco System Inc., NEC Corporation, ZTE Corporation, Corning Incorporated, Ciena Corporation

"""The Business Research Company recently released a comprehensive report on the Global Optical Communication And Networking Equipment Market Size and Trends Analysis with Forecast 2024-2033. This latest market research report offers a wealth of valuable insights and data, including global market size, regional shares, and competitor market share. Additionally, it covers current trends, future opportunities, and essential data for success in the industry.

According to The Business Research Company's, The optical communication and networking equipment market size has grown rapidly in recent years. It will grow from $25.03 billion in 2023 to $27.8 billion in 2024 at a compound annual growth rate (CAGR) of 11.1%. The growth in the historic period can be attributed to the rise of the internet and digitalization, telecommunication companies upgrading their infrastructure, technological innovations in fiber optics, the proliferation of cloud computing services, and globalization of businesses.

The optical communication and networking equipment market size is expected to see rapid growth in the next few years. It will grow to $42.59 billion in 2028 at a compound annual growth rate (CAGR) of 11.2%. The growth in the forecast period can be attributed to the widespread deployment of 5G networks, expansion of internet access in developing regions, development of smart city initiatives, the proliferation of AI and ML applications, and expansion of e-commerce platforms. Major trends in the forecast period include the rapid adoption of fiber to the home (FTTH), the emergence of coherent optical technologies, the proliferation of edge computing and networking architectures, the adoption of SDN and NFV technologies, and advancements in silicon photonics technology.

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Market Drivers and Trends:

The increasing number of data centers is expected to propel the growth of the optical communication and networking equipment market going forward. A data center is a specialized facility designed to house and manage a large collection of computer servers, storage systems, networking equipment, and associated components, such as cooling and power distribution infrastructure. The number of data centers is rising due to increasing demand for digital services, cloud computing, big data analytics, and internet-connected devices, necessitating more infrastructure to store, process, and manage the expanding volume of data generated globally. Optical communication and networking equipment in data centers enable high-speed, low-latency data transmission, supporting the rapid exchange of vast amounts of information essential for efficient operation and connectivity within and between data center facilities. For instance, in May 2023, according to Hedonova LLC, a US-based global fund investing firm, the data center sector saw 209 deals totaling over $48 billion in aggregate value in the year 2021, marking a 40% surge compared to 2020. Therefore, the increasing number of data centers is driving the growth of the optical communication and networking equipment market.

Major companies operating in the optical communication and networking equipment market are focusing on expanding their product portfolio by adding technologies such as tactical free-space optical communications (FSOC) systems to advance product offerings and provide better communication and networking options. A tactical free-space optical communications (FSOC) system is a communication technology that utilizes light propagation through the atmosphere (free space) to transmit data between two points without physical cables or wires. For instance, in May 2023, Raytheon Technologies Corporation, a US-based company, launched NexGen Optix. This tactical free-space optical communications system enables rapid and secure data transfer even in demanding conditions. The system offers greater bandwidths in a smaller, lighter, more power-efficient, and cost-effective form factor compared to traditional optical systems. This makes it an ideal solution for organizations operating in peer and near-peer operational environments. The system has undergone testing and approval during U.S. government exercises, showcasing its reliability and effectiveness in challenging environments where traditional communication systems.

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Major Key Players of the Market:

Huawei Technologies Co. Ltd., Cisco System Inc., Broadcom Corporation, Mitsubishi Electric Corporation, Nokia Corporation, Telefonaktiebolaget LM Ericsson, Fujitsu Optical Components Limited, NEC Corporation, ZTE Corporation, Corning Incorporated, Commscope Holding Company Inc., Juniper Networks Inc., FiberHome Technologies Group, Arista Networks Inc., Ciena Corporation, II-VI Incorporated (Coherent Corp.), Lumentum Holdings Inc., Infinera Corporation, Finisar Corporation, Viavi Solutions Inc., ADTRAN Inc., Ribbon Communications Inc., ADVA Optical Networking SE, Acacia Communications Inc., PacketLight Networks Ltd.

Optical Communication And Networking Equipment Market 2024 Key Insights:

• The optical communication and networking equipment market size is expected to see rapid growth in the next few years. It will grow to $42.59 billion in 2028 at a compound annual growth rate (CAGR) of 11.2%.
• Data Center Expansion Drives Optical Communication Equipment Market Growth
• Optical Communication Market Leaders Expand Offerings With FSOC Technology Integration
• North America was the largest region in the optical communication and networking equipment market in 2023

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